Italy toughens control over gambling

The ADM will enforce new anti-money-laundering standards for the betting sector.

Italy.- The Agenzia delle Dogane e dei Monopoli (ADM) has confirmed that it will push through new anti-money-laundering (AML) standards for the betting industry and generated some rejection from local operators. The regulatory body will enforce new registration requirements for gamblers, as operators will have to record all player account transactions and financial movements to inform the ADM.

The regulator is going to terminating licensed bookmakers’ “soft registrations,” as it returns to a “12 mandatory fields for player registration” policy. Gamblers will have to register a government ID verification, alongside the name of the issuing authority, ID number, location and date of expiry.

“Our main concern is about the competitive advantage that illegal operators would secure: any further complication (the former Government’s mantra with regards to Gaming was “reduce demand and supply” was not exactly a pearl of economic wisdom) will inevitably bring advantages to illegal operators or an abandonment of the Concession system by the existing players”, Italian online gambling trade association LOGiCO Chairman Moreno Marasco said.

“This provision, along the intentions to remove advertising, the only tool which allows to distinguish the legal offer and to channel the demand for gaming through it, provides an explosive cocktail to return to “dotcom”, of which only unscrupulous economic operators will benefit, ultimately eliminating the consumer protections implemented so far. While Italy has so far proved to be a pioneer regarding the regulation of online gaming in Europe, some rules are decidedly more rigid and not up to those in comparable countries like France and Spain,” he added.